CJP urged to take suo motu notice of falling rupee

Director International Hardware and Houseware Association and FPCCI Executive Committee Member Sardar Usman Ghani has appealed to the Chief Justice of Pakistan to take suo motu notice of an unprecedented surge in dollar rate that has gone up by more than five rupees in just 30 days period.
Sardar Usman Ghani said that the unusual increase in dollar price has not only eaten up the profit margin but is also incurring a huge loss on local businesses. He said that a committee should also be formed to identify the reasons and fix the responsibility as speculations are rife that the dollar would touch Rs 110 in matter of days.
He said that the local industry consumes a big chunk of imported raw materials therefore it has become very difficult for local businessmen to continue with their businesses. He said that what about the commercial importers who had already sold their merchandise on advance sale. He feared that these businesses would definitely turn bankrupt.